Wal-Mart Chairman Greg Penner is selling his mansion in Carmel, CA, for $8.75 million. And if you need more evidence of the success of big business in Bentonville, AR, look no farther than this 9,197-square-foot homestead.
The house sits on 27 acres and is walking distance to the tony Ranch Club, which treats members to an equestrian center, four pools, a waterslide, tennis and bocce courts, an 18-acre lake, and 100 miles of trails for biking, horseback riding, or hiking. Located in the hills above Carmel, the manse is about a 40-minute drive from the world-famous Pebble Beach Golf Links and the Pacific Ocean.
The house boasts five bedrooms, six bathrooms, open kitchen-family room, and formal dining room. The property includes a pool, pool house, and outdoor kitchen and dining.
Penner is married to Sam Walton's granddaughter Carrie. He ascended to the Wal-Mart throne a year ago when the retail giant's board and his father-in-law, then-Chairman Rob Walton, passed the crown to him. Penner had been a general partner at Madrone Capital Partners, a Silicon Valley investment firm, and the couple also reportedly own a house in the San Francisco Bay Area suburb of Atherton.